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Black Economic Empowerment (B-BBEE) Archives - EconoServ | BBBEE & HR

cliffcentral
10 Nov

The Real State of B-BBEE: Part 1 – 360 Biz

In October this year, the BEE commission planned to issue about 50 preliminary and final findings against companies for contraventions of the B-BBEE act. What are these contraventions? One of them is fronting. A major form of non-compliance is fronting, or the introduction of spurious schemes that purport to introduce black shareholders (sometimes a domestic

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moneyweb radio logo
04 Oct

Are BEE Share Schemes Creating Shareholder Value? Listen to our Chairman, Keith Levenstein, discussing the types of BEE share schemes, their benefits and pitfalls.

Interview on SAFM with EconoServ chairman Keith Levenstein   NASTASSIA ARENDSE:  We are looking at BEE share schemes. What prompted this idea was the Sasol Inzalo unbundling that will take place next June. Yesterday we spoke with the joint president on how the new scheme is going to work. Now we’ll look at BEE share

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bee commission logo
27 Sep

BEE Commission to Face its Biggest Challenge and Set Precedent

The BEE Commission is about to set a precedent which will decide the validity of what, to date, have been questionable BEE transactions.  The BEE Act states that the BEE Commission must maintain a registry of major transactions. Regulations issued in 2017 defined a major transaction as a deal worth more than R25million. Regulations issued

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jse logo
27 Sep

JSE-listed companies will be required to submit their BEE Compliance Report to the BEE Commission by 1 June 2018. Read more about what is required.

By Lianne Friedman, CEO of EconoServ   An amendment to the JSE listing requirements will require companies to provide the BEE Commission with a copy of their compliance report. The first disclosure period is scheduled for 1 June 2018. The JSE says that the aim of the amendment is to support current BEE legislation and

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bee ownership
15 Sep

How to sell part or all of your business for profit. How do the new codes affect ownership. Are you ‘giving away’ your business? Not if you plan property.

Ownership on the new codes has made the scorecard increasingly more difficult and companies have no choice but to explore their options. It accounts for nearly one quarter of all BEE points and a critical tool to ensure full compliance with other policies. We realise that making a decision to sell your business can be

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bee commission logo
08 Aug

B-BBEE Commission is getting serious about fronting

Following on from our previous newsletter where we criticized the B-BBEE Commission for not taking sufficient action against the scourge of fronting, the Commission has now issued a media statement naming 17 companies that are currently being investigated for possible fronting practices and non-compliance with the B-BBEE Act. The media statement gives a short summary

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